Techtree News Staff, Jul 15, 2008 1732 hrs IST
Microsoft claims Yahoo Chairman Roy Bostock initiated talks for the deal.
One could almost see this coming - Soon after Yahoo's rejection of the Microsoft-Icahn offer, and the public statement of the rejection, it was Microsoft's turn to defend itself against the allegations slapped upon it by Yahoo.
In Microsoft's version of the events in the making of the new deal, there was no 24-hour deadline for the deal. In its public statement, the company also suggests that Yahoo Chairman Roy Bostock initiated talks for the deal.
Microsoft: Specifically, on Thursday afternoon, July 10, Mr. Bostock called Steve Ballmer's office to arrange a call. On that subsequent call, Mr. Bostock told Mr. Ballmer that "with substantial guarantees on the table and an increase in the TAC (traffic acquisition cost) rate, there are the pillars of a search only deal to be done." Mr. Bostock encouraged Mr. Ballmer to submit a new proposal to Yahoo for a search only deal reflecting these terms.
And there was a mail sent by Jerry Yang, Yahoo's CEO, to all the Yahoos where he talks about the details of the new Microsoft-Icahn proposal, why the management rejected it, along with a bunch of question-answer pointers for Yahoo's employees, customers and partners.
Meanwhile, Carl Icahn issued an open letter to the shareholders of Yahoo which can be read here.
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